Kornitzer Capital Management Inc. KS Acquires 3,529 Shares of Citigroup Inc. (NYSE:C)

Kornitzer Capital Management Inc. KS increased its position in Citigroup Inc. (NYSE:C) by 7.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,074 shares of the company’s stock after purchasing an additional 3,529 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Citigroup were worth $3,385,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. POM Investment Strategies LLC purchased a new position in Citigroup in the 2nd quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Citigroup during the 3rd quarter valued at about $28,000. Beacon Capital Management LLC increased its position in shares of Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after purchasing an additional 212 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Citigroup during the 2nd quarter valued at about $31,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Citigroup during the 2nd quarter valued at about $32,000. Institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on C. Piper Sandler upped their price target on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Bank of America upped their price target on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group reduced their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Oppenheimer increased their target price on shares of Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Argus increased their target price on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.06.

Citigroup Stock Performance

NYSE:C opened at $68.09 on Friday. The stock’s fifty day moving average is $62.17 and its 200 day moving average is $62.27. Citigroup Inc. has a fifty-two week low of $41.28 and a fifty-two week high of $70.09. The firm has a market capitalization of $129.90 billion, a PE ratio of 19.74, a PEG ratio of 0.69 and a beta of 1.44. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.94 and a current ratio of 0.96.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same quarter last year, the firm posted $1.52 earnings per share. The business’s revenue was up .9% compared to the same quarter last year. On average, sell-side analysts anticipate that Citigroup Inc. will post 5.87 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be paid a $0.56 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a yield of 3.29%. Citigroup’s payout ratio is 64.93%.

Citigroup Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.